On 7 July 2020, Scott Andersen and Nathan Deppeler of Worrells Solvency and Forensic Accountants were appointed voluntary administrators of Geelong Mood Support Group Inc, which trades as Mind Works Geelong.
Mind Works Geelong’s history dates back to 1989. Today it is a National Disability Insurance Agency (NDIA) registered provider and an established Mutual Support & Self Help (MSSH) organisation helping members, friends and families who have experienced mental health uncertainty. Its services support approximately 150 members in the Geelong and surrounding communities.
Mind Works Geelong’s premises, including its drop-in centre, are located on LaTrobe Terrace, Newtown. Mind Works Geelong employs approximately 30 people who are mostly casuals.
The organisation remains open and all staff are continuing to work in their normal capacity.
Mr Andersen said, “The board of management committee made the difficult decision to appoint voluntary administrators in the face of a number of internal and external pressures. An external administrator is best placed to effectively and efficiently address issues, and restructure the organisation to evolve in its mission to assist people.
Compounding the ongoing challenges is the impact and influence of COVID-19 restrictions. This time of incredible uncertainty and stress inherently impacts the mental health system and raises the critical importance of the incredible support services available, such as Mind Works Geelong gives.”
Worrells appreciates and understands the impact the appointment will have on all stakeholders and the community as a whole. Worrells advises the administration is in its infancy and its teams are working hard to assess and determine all aspects of the business position and operations.
Mr Andersen said, “We are currently reviewing all aspects of Mind Works business with the view to restructure the organisation and its operations to underpin a long-term future.”
The objectives of the voluntary administration regime allow businesses to address issues and if possible—with creditor approval—restructure it affairs with a view to maximise the outcome for all stakeholders.
Under the voluntary administration process, a first meeting of creditors is held within eight business days of the appointment, and a second meeting of creditors is usually held within 20 to 30 business days, when creditors of Mind Works Geelong will vote on the future of the organisation.
Worrells has 29 offices and partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for over 47 years.